Clearwater advises on sale of Stockport-based Spore Limited to major multi-national

Dato

16 februar 2004

Spore Limited, the Stockport-based market-leading provider of management and electrical engineering consultancy services to automotive and related industries, has been sold to a major multi-national corporation.

Valley Forge Technical Information Services GmbH, a subsidiary of SPX Corporation in the USA, has taken over the reigns of Spore as the company looks to realise strong growth prospects into new automotive clients and markets.

The Manchester office of Clearwater Corporate Finance plc advised the vendors on the sale of the business.

Employing 70 consultants and with a turnover of £4 million, Spore has a blue chip client base, including major premier automotive manufacturers and tier one suppliers operating within the UK and throughout Europe. Established in Stockport in 1993, Spore has grown rapidly in the last ten years to become a highly respected consultancy in the industry.

Spore is recognised in the automotive sector as a prominent electrical engineering and management consultancy providing a unique service offering to its clients. Spore’s primary focus and experience is in the development of new applications and integration of new technologies throughout the vehicle life cycle.

It has experts in electrical engineering and the development, integration and the diagnostic support of new technology within vehicles and has worked on many new vehicle developments.

Valley Forge specialises in the information management needs of the transportation industry. The company delivers results for some of the world’s most respected manufacturers concentrating on training solutions, information technology and information creation.

Valley Forge is part of the US-based SPX Corporation, which operates in over 20 countries and employs approximately 24,000 employees worldwide.

Ian Heaps, the vendor stated, “Spore was originally set up to provide a unique range of consulting services to our automotive clients and has since become a trusted partner to many well known vehicle brands particularly in the luxury car market. Being part of SPX will open up more doors and opportunities to the highly skilled employees.”

Working with partner Mike Reeves from Clearwater was assistant director Jon Mercer.

Clearwater’s Mike Reeves said Spore has a number of excellent opportunities currently in the pipeline both within its existing client base and also with other major companies in the automotive sector. “This transaction is an excellent deal for both parties, with Valley Forge strengthening their UK operations whilst Spore can tap into the resources of a major worldwide corporation, potentially expanding its services into new markets and overseas.”

The vendors were advised by DLA (James Kerrigan) with Eversheds advising the purchaser.